Twitter (NYSE:TWTR) Posts Earnings Results, Misses Expectations By $0.22 EPS

Twitter (NYSE:TWTRGet Rating) announced its quarterly earnings results on Friday. The social networking company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.22), Briefing.com reports. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Twitter had a net margin of 4.27% and a return on equity of 3.77%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 EPS.

Twitter Stock Up 0.8 %

Shares of TWTR opened at $39.84 on Monday. The firm has a market capitalization of $30.42 billion, a P/E ratio of -199.20 and a beta of 0.59. Twitter has a 12-month low of $31.30 and a 12-month high of $73.34. The company has a current ratio of 6.58, a quick ratio of 6.58 and a debt-to-equity ratio of 0.89. The firm has a fifty day moving average price of $38.26 and a 200-day moving average price of $39.43.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TWTR shares. Wedbush dropped their price target on shares of Twitter from $54.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, July 8th. Truist Financial dropped their price objective on shares of Twitter from $50.00 to $43.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. Robert W. Baird decreased their target price on shares of Twitter from $45.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, July 11th. Mizuho decreased their target price on shares of Twitter from $54.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, July 11th. Finally, Oppenheimer cut shares of Twitter from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 14th. Two analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $45.88.

Insider Activity

In related news, insider Bruce Falck sold 20,069 shares of Twitter stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $48.89, for a total value of $981,173.41. Following the completion of the sale, the insider now directly owns 346,210 shares in the company, valued at $16,926,206.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Bruce Falck sold 20,069 shares of Twitter stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $48.89, for a total value of $981,173.41. Following the completion of the sale, the insider now directly owns 346,210 shares in the company, valued at $16,926,206.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert Kaiden sold 17,695 shares of Twitter stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $50.50, for a total value of $893,597.50. Following the completion of the sale, the chief accounting officer now owns 173,721 shares of the company’s stock, valued at $8,772,910.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 569,152 shares of company stock valued at $21,737,324. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Twitter

A number of large investors have recently added to or reduced their stakes in TWTR. Pinnacle Holdings LLC acquired a new position in shares of Twitter during the first quarter valued at about $42,000. Parkside Financial Bank & Trust increased its holdings in shares of Twitter by 121.2% during the first quarter. Parkside Financial Bank & Trust now owns 1,097 shares of the social networking company’s stock valued at $42,000 after acquiring an additional 601 shares in the last quarter. Covestor Ltd increased its holdings in shares of Twitter by 243.9% during the first quarter. Covestor Ltd now owns 3,542 shares of the social networking company’s stock valued at $137,000 after acquiring an additional 2,512 shares in the last quarter. Fund Management at Engine No. 1 LLC acquired a new position in shares of Twitter during the first quarter valued at about $262,000. Finally, Prudential PLC acquired a new position in shares of Twitter during the first quarter valued at about $380,000. 91.72% of the stock is currently owned by institutional investors.

Twitter Company Profile

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Twitter, Inc operates as a platform for public self-expression and conversation in real-time. The company's primary product is Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products that enable advertisers to promote brands, products, and services, as well as enable advertisers to target an audience based on various factors, including who an account follows and actions taken on its platform, such as Tweets created and engagement with Tweets.

See Also

Earnings History for Twitter (NYSE:TWTR)

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